- Global Pharma News & Resources
03-Sep-2019 - 03-Sep-2019

AML OFAC risk assessment cornerstone of an effective compliance shop

Topic : AML OFAC risk assessment cornerstone of an effective compliance shop


This Bank Secrecy Act risk Assessment training will highlight BSA best practices that are being acknowledged and recognized by regulators and examiners and will discuss each risk assessment area.Risk assessments are the backbone of any well-built Anti-Money Laundering and Office of Foreign Assets Control compliance program. 
An efficient and effective program cannot be developed without knowing where one's risks reside. Today, many businesses both financial and non-financial institutions are conducting these assessments to uncover risks, design strong compliance programs, and mitigate their exposure. There are many decisions that need to be made when you decide to conduct an AML/OFAC risk assessment.

Why should you attend this webinar?

Although financial institutions have been managing BSA operations per the regulation requirements, the change in focus to appropriate BSA/AML/OFAC risk assessment has been coming increasingly important. Regulators look to the bank for insurance and evidence that BSA operations are appropriately performing risk assessments. Appropriate risk assessments are essential in a bank's strategic planning and development, as well as assisting in compliance.
This webinar highlights BSA/AML/OFAC risk assessments. The areas of focus outlined in this webinar are based on best industry practice, supervisory experience and cover the major components of an effective BSA risk assessment program that audit focuses on. The instructor will look at these areas and the specifics of each area as it pertains to BSA compliance.

Areas Covered in the Session:

Know what is on the OFAC List
Identify each departments OFAC risk factors
Evaluate and rate each risk
Document & Summarize
10 Risk-based OFAC Monitoring and Screening Practices
Higher risk geographic locations in relation to BSA/AML
5 specific risk categories of AML
Implementing BSA risk assessment
Assessing policies and procedures for risk assessments
Comprehensive Risk Assessment review for BSA / AML / OFAC
Review of risk assessment matrixes
Determining effectiveness and thoroughness of risk assessments
Performing risk assessments

Who can Benefit:

Bank and financial institution auditors
Controllers and corporate managers
Forensic and management accountants, accounts payable and financial analysts
Governance, risk management and compliance officers
Internal and external auditors, CPAs and CAs
Certified Fraud Examiners and other anti-fraud professionals
BSA / AML Officers
Internal Auditors
Staff with roles and responsibilities in BSA / AML management and oversight
Money Service Business BSA/AML Officers
Corporate Audit

Speaker Profile :

Craig Taggart is Keynote speaker at ComplianceKey. He has almost a decade of experience in the fields of mergers and acquisitions and business financing. Mr. Taggart works strategically with his clients to achieve the highest value for their business within the capital markets. His experience with BCC Capital Partners in the M&A industry has greatly contributed to his understanding of transaction structure, strategic placement of buyers, and the attainment of maximum market value for his clients. He has represented and sold many businesses in a number of different industries and has significant experience working with companies in: continuing education, transportation, software and professional services. Mr. Taggart is currently working in the clean energy sector that covers multiple initiatives within M&A and corporate development.

Register :

Contact info :

Compliance Key

Email :

Phone : +1 717-208-8666